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HomePublicationsRepresentative experienceIs it possible to buy an apartment in Ukraine during the war?

Is it possible to buy an apartment in Ukraine during the war?

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After more than six months of war in Ukraine, the real estate market is starting to wake up - on the one hand many Ukrainians are ready to sell their properties in Kiev, Odessa, Lviv, in the hope of getting quick money for their own needs. On the other hand, many investors want to take the opportunity to buy real estate at a cheaper price, despite the ongoing hostilities in the South and East of the country.

In connection with this, the real estate registry is up and running, and notaries are already providing services for the sale and purchase of real estate. There are, however, some restrictions:

  • notarial transactions are not made for russian citizens;

  • The Cabinet of Ministers determines a list of areas for which access to state registers and registration acts is forbidden. This list is constantly changing.

In the past, you had to go to a notary public or a private notary when buying real estate. Today such transactions are also carried out by notaries, but not all of them. The list of those who can certify real estate sale-purchase transactions is set by the Cabinet of Ministers.

After you buy a property you must be registered as the new owner of the property. If the notary's access to the register is denied, contracts certified by him or her cannot be registered even in the future. 

Related article: How to check the seller of the real estate in Ukraine?

What investment opportunities are available in Ukraine today?

First of all, let's discuss investment in construction - that is, entering into an investment agreement with a construction company, which is the purchase of the right to the completed flat. Such contracts require special scrutiny and analysis.

There is also a co-investment institution (CII) or construction financing funds (CFF), but their activities are now subject to significant regulatory restrictions. The National Securities and Stock Market Commission has partially authorised asset transactions in ICI, FSFs. They can now only operate in the western regions of Ukraine. 

If you want to invest in real estate in the primary market, we offer pre-inspection of both the developer and the property.

Related article: How to buy an apartment in Kyiv safely for a foreigner?

What are the risks in Ukraine's secondary market today?

These are the largest number of flats and premises on the Ukrainian market today. But there are plenty of risks in such a purchase, especially in the turmoil of wartime. Here are a few rules you should follow:

  • Only a notarial contract and registration of the property at the registry office immediately after signing and settlement.

  • Only conclude contracts with the owner of the flat - do not take the risk of concluding a contract under a fake power of attorney. 

  • Special care should be taken when buying real estate from an heir - check whether the heir is the sole heir, whether there are no courts concerning the property, etc.

If you want to be confident in the security of buying property in Ukraine today - contact us for verification and arrangement of the deal.

Find out the cost of our services here. 

Views: 2084